Akamai, Aspen Tech, Peregrine, more

MichaelBaron

JasonMargolis

U.S. stocks to watch

Akamai
AKAM, -0.26%
lowered its first-quarter revenue estimate to between $39 million to $41 million, compared with the company's previous projection of $45 million. The company, which runs Internet servers, also said that it will report a narrower-than-expected loss of $35 million to $38 million, compared to a previous estimate calling for a loss of $45 million. Cambridge, Mass.-based Akamai also intends to slash 14 percent of its work force. Shares closed up 19 cents to $6 and traded as low as $5.38 in after-hours trading.

Software maker Aspen Technology
AZPN, +0.73%
said it will fall short of its third-quarter expectations. The company now expects to report a pro-forma loss of 10 to 12 cents a share, shy of the Wall Street consensus estimate of a 12 cent gain. Revenue is expected to fall between $75 million and $77 million. Actual results should be reported on April 24. Shares of the Cambridge, Mass.-based company closed up 31 cents at $19 ahead of the news but were plunging 31 cents to $13.06 in after-hours trading.

Hardware and software designer IKOS Systems
IKOS
said it expects second-quarter earnings of 2 to 3 cents a share, compared with 17 cents in the year-ago period. Analysts had been expecting a profit of 26 cents a share. Revenue will be about $17 million citing customer delays in placing orders. Shares closed up 6 cents to $10 ahead of the news.

Peregrine Systems.
PRGN
said it will meet the current consensus estimate of 16 cents for the fourth quarter. Revenue will be $170 million, with $105 million consisting of license revenue. Shares closed down 38 cents to $13.75 and traded as high as $15.25 in the after-hours session.

Selectica
SLTC
said it will slash employee expenses by 10 percent, which includes job cuts and salary freezes. Also, the company reported a preliminary fourth-quarter pro-forma loss of 27 to 29 cents a share, short of the consensus estimate of a loss of 9 cents. Pro-forma revenue is expected at $16 million, vs. $7.1 million reported last year. Actual results will be announced on April 24. The company also approved a $30 million stock buyback plan. Shares of the San Jose, Calif.-based software maker closed down 87 cents, or 20 percent, at $3.53. Shares fell 7.4 percent to $3.27 in after-hours trading.

WatchGuard Technologies
WGRD
said it expects a loss between 10 and 14 cents a share, on revenue of $16.7 million to $17.3 million. Analysts had been expecting a profit of 6 cents for the first quarter. The Internet security company said the continued economic slowdown has resulted in a deferral, and in some cases a drop, in capital spending by businesses around the world. Shares closed down 25 cents to $6.44. In after-hours trading, shares slipped to $6.

Advancers for Wednesday

American General
AGC, +0.00%
added 14 percent after the company said it has received an unsolicited, competing stock offer from American International Group
AIG, +0.31%
The company, which entered a merger agreement with Prudential plc, said the offer would be carefully considered by its board. American International's rival bid is valued at $23 billion, or $46 a share, trumping Prudential's $20 billion offer. American General shares closed up $5.20 at $42.

Commerce One
CMRC
advanced 7 percent after the company revised its forecast for the first quarter, projecting a loss, excluding items, of 11 cents a share on revenue of $170 million. Analysts polled by First Call/Thomson Financial were looking for a loss of 6 cents, on average. The Pleasanton, Calif., e-commerce software firm attributed the shortfall to the challenging U.S. economic environment. Shares closed up 39 cents at $6.

Digi International
DGII, +1.11%
added 14 percent after the Minneapolis provider of connectivity software said it expects second-quarter results to top Wall Street expectations. The company said it expects to report a profit 2 to 5 cents a share on revenue of $33 million in the period. Excluding items, Digi is projecting a profit of 7 to 10 cents a share, better than the average estimate of analysts polled by First Call/Thomson Financial for earnings of 8 cents, on average. Shares closed up 68 cents at $5.59.

Firepond
FIRE, +0.00%
gained 6.3 percent after the Waltham, Mass., provider of customer management software said it plans to slash 20 percent of its work force as part of a restructuring designed to keep the company afloat. As a result of reducing the headcount to 650 employees, Firepond said it would take an undisclosed second-quarter charge. Firepond said the restructuring is due to a worldwide slowdown in information technology spending and because of overlap in jobs stemming from its acquisition of Brightware. Shares closed up 9 cents at $1.59.

Sybase
SYBS, -0.77%
rose 5.8 percent despite the company's warning that first-quarter pro-forma earnings would come in at 23 to 26 cents a share, short of the current Wall Street consensus estimate of 28 cents a share. Sybase projected revenue of $227 million and $231 million for the period. "We were not able to escape the effects of the current U.S. economic malaise," said CEO John Chen. The database-software company will report actual first-quarter results on April 19. Shares closed up 75 cents at $13.68.

Tenet Healthcare
THC, +0.87%
added 4.8 percent after the company reported third-quarter operating earnings of $219 million, or 66 cents a share, up from a year-ago equivalent profit of $173 million, or 55 cents a share. These results, which exclude acquisition-related goodwill amortization charges, beat Wall Street expectations for a profit of 58 cents a share. Operating revenue reached $3.04 billion in the latest three months, up from $2.85 billion in the same period a year earlier. Same-facility revenue per admission rose 8.3 percent in the period. Shares rose $2.12 closing at $46.12.

Visx
EYE, +0.00%
leapt 7.3 percent after the company projected first-quarter earnings of 20 to 21 cents a share, ahead of Wall Street expectations for a profit of 18 cents a share. The Santa Clara, Calif., provider of refractive laser technology attributed the strong performance in part to a 23 percent sequential increase in licensing revenue. Shares closed up $1.17 at $17.10. See full story.

Decliners for Wednesday

Ameritrade
AMTD, +0.73%
slid 4.7 percent after the online brokerage firm announced a number of initiatives to streamline operations and generate revenue. The company made electronic delivery of statements and trade confirmations standard, saying paper documents will still be available for a fee. In addition, Ameritrade instituted an account maintenance fee of $15 per quarter on accounts that have less than $2,000 in total assets or fewer than four trades executed in the past six months. Shares closed off 18 cents at $3.81.

Bell Microproducts
BELM, -0.02%
lost 17 percent after the company said first-quarter results would fall 15 cents short of analysts' expectations. The San Jose, Calif.-based semiconductor and electronics firm expects to earn a penny a share, off from 21 cents during the same-quarter last year. Revenue is expected to reach $530 million, a 45 percent increase over last year. Shares closed off $1.68 at $8.18.

Broadbase Software
BBSW
plunged 60 percent after the company warned that first-quarter earnings would miss Wall Street expectations. The Menlo Park, Calif., provider of customer interaction software said it expects a loss of 23 cents a share, excluding items, on revenue of roughly $13 million for the period. Analysts were looking for a loss of 11 cents a share, on average. Broadbase cited the slowing economy and the challenging business climate in North America for the shortfall. In addition, Rusty Thomas will no longer serve as the company's chief financial officer. Shares closed down 96 cents at 65 cents.

Click Commerce
CKCM
dropped 7.5 percent after the Chicago channel management software firm warned that first-quarter results would miss Wall Street expectations. The company projects a loss of 8 to 9 cents a share on revenue of $11.5 million for the three months ended March 31. Analysts polled by First Call/Thomson Financial were looking for a loss of 2 cents, on average. Click Commerce cited the uncertainty in the economy, which led to a lengthening of sales cycles as customers examined information technology spending "more carefully than in the past." The company also named Randy Gray chief operating officer and managing director. Gray previously served as executive vice president of business development and strategy. Shares closed off 46 cents at $5.81.

EXE Technologies
EXEE
fell 23 percent after the company anticipates net income of about 3 cents a share for its first quarter, while analysts had been anticipating a profit of 4 cents a share. The supply-chain execution software provider said revenue would be about $29 million, which includes an estimated $10 million to $10.5 million of software license revenues. The company noted that its software license revenue is generally in line with previous guidance. Shares closed off $1.12 at $3.87.

FosterWheeler
FWC, +0.51%
lost 16 percent, falling $2.28 to close at $11.62. The stock fell more than 18 percent Tuesday after it announced that Richard Swift, its chairman, president and CEO, would retire by the end of 2001. This morning Credit Suisse First Boston lowered its rating on the shares to "hold" from "buy."

GoAmerica
GOAM
sank 11 percent in afternoon action. The Hackensack, N.J,., wireless data and Internet services firm issued a press release Wednesday to clarify recent trading activity in its stock by Joe Korb, the company's president. GoAmerica said Korb filed a third amendment on April 3 to a Form 144 filing originally made on March 15. This amendment restated the original Form 144 and sets the amount of shares of GoAmerica stock Korb sold during the permissible trading period at 30,000. The company said Korb has informed it that, due to a margin call on his personal brokerage account, an additional 250,000 shares of his GoAmerica stock were liquidated in March. These sales will be reflected in Korb's Form 4 statement to the SEC. As of April 4, Korb owns roughly 3.4 million GoAmerica common shares. The shares closed off 21 cents at $1.84.

Interlinq Software
INLQ
fell 25 percent after the company said it would restructure around its core mortgage technology business, resulting in the elimination of 32 positions, or 18 percent of its work force. Interlinq expects to take a related charge of $500,000 in its fiscal fourth quarter. The company also said Jiri Nechleba has resigned from his posts has chief executive and board member. "We are committed to returning the company to profitability and positive cash flow," said Robert Gallagher, Interlinq's chairman and interim CEO. "We believe we can speed that effort by shifting resources from our less profitable accessory products, which are now fully functional and will require only minor enhancements and regulatory updates." The restructuring is estimated to result in annual savings of $2.5 million. Shares closed off 46 cents at $1.43.

Kana Communications
KANA
lost 39 percent after the provider of customer-relationship-management software said its first quarter would be hurt by a slowdown in spending from customers. The Redwood City, Calif.-based Kana expects revenue of $24 million to $25 million and a loss per share of as much as 43 cents. A year ago, the company generated revenue of $20.8 million and lost 19 cents a share. Analysts expected Kana to lose 19 cents a share. The shares closed off 40 cents at 62 cents.

Knight Trading Group
NITE, -0.07%
fell 7.8 percent after the company warned that it expects to miss the profits estimate for its first quarter. The market maker is now expecting to post a profit of 18 to 20 cents a share, including expenses of 8 cents per share for its international expansion. In January, Knight set a profit target of 32 to 40 cents a share based on an assumption of the Nasdaq trading at 2,600 "with an upward bias." The shares closed off $1 at $11.87.

Lucent Technologies
LU
fell 14 percent, bouncing off a 52-week low of $5.50 earlier in the session. The stock was being plagued by rumors that the Murray Hill, N.J., telecommunications equipment firm was planning to file for bankruptcy protection, according to Dow Jones. A Lucent spokesperson told Dow Jones that there was no truth to the rumors. Lucent shares closed down $1.08 at $6.78. See full story.

Metawave Communications
MTWV
plummeted 57 percent after the company said it expects first-quarter revenue between $11 million and $12 million, due to a delay of certain orders as a result of general slowdown in the U.S. economy and telecom capital spending. Analysts had been expecting revenue in the neighborhood of $21.6 million. Share closed off $3.53 at $2.51.

Morgan Stanley
MWD, +0.00%
fell 8.3 percent following a report that the company is planning to lay off as many as 1,000 of its brokers, or 7 percent of its workforce, has the shares falling $4.34, or 8.8 percent, to $45 in early action. The Wall Street Journal said the move would be part of a plan to eliminate $1 billion in costs. Total job cuts at the firm could reach 1,500, the paper said. Shares closed off $4.08 at $45.26. See full story.

Onyx Software
ONXS
plunged 43 percent after the company said it expects a first-quarter loss of 31 to 33 cents a share, with revenue of about $26 million to $27 million. Analysts polled by First Call/Thomson Financial were looking for a profit of 1 cent, on average. The company said a number of contracts sat unsigned on executive desks for reasons ranging from customer revenue shortfalls to heightened deal scrutiny. In addition, the company said it would cut its work force by about 17 percent to around 660 employees. Shares closed off $2.25 at $3.

Repligen
RGEN, +1.06%
dived 31 percent after the Needham. Mass., pharmaceutical firm disclosed that a phase 2 trial of a human synthetic secretin for young children with autism missed its primary endpoint. The company said that changes in the Childhood Autism Rating Scale, or CARS, for the secretin-treated group "were not significantly different compared to the placebo group." Shares closed off 81 cents at $1.84.

TheStreet.com
TSCM
slid 8.6 percent after the company announced that it would reduce its workforce by 40 employees, or 20 percent. To further cut costs, the financial news site also said that will sublease part of its office space and will slash discretionary spending in travel and marketing. The company expects the moves to result in annual savings of $15 million. TheStreet.com is a competitor of MarketWatch.com
MKTW
the publisher of this Web site. TheStreet.com shares closed off 18 cents at $2. See full story.

Western Digital
WDC, +1.97%
lost 9.2 percent after the Lake Forest, Calif., storage data products firm named Arif Shakeel chief operating officer. Shakeel most recently served as executive vice president and general manager of the company's hard-drive solutions unit. Shares closed off 39 cents at $3.85.

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